10% Owner Forager Fund Amends Filing to Show $1.9M Open Market Purchase, Not Sale
Summary
Forager Fund, a 10% owner, corrected a previous Form 4 to reflect a $1.9 million open market purchase of Repay Holdings Corp shares, reversing an earlier erroneous report of a sale.
Key Events
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Amended Filing Corrects Transaction Type
Forager Fund, a 10% owner, filed an amendment to its Form 4, changing previously reported dispositions of 642,837 shares to open market purchases.
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Significant Open Market Purchase
The amendment reveals a total of $1,935,060 in shares were acquired by Forager Fund between March 25 and March 27, 2026, at prices ranging from $2.92 to $3.05 per share.
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Clarifies Ownership Stance Amidst M&A
This correction provides a clearer picture of Forager Fund's accumulation of shares, aligning with their recent 13D/A filing indicating increased beneficial ownership, and comes amidst the company's major KUBRA acquisition and related activist investor calls for termination.
Analysis
This amended Form 4 clarifies that Forager Fund, a 10% owner, acquired approximately $1.9 million worth of Repay Holdings Corp shares between March 25 and March 27, 2026, correcting an earlier filing that erroneously reported these as dispositions. This significant purchase by a major shareholder signals confidence, especially in light of the company's recent acquisition of KUBRA and activist pressure to terminate the deal. The correction aligns with the 13D/A filed on April 3, which indicated increased beneficial ownership.
At the time of this filing, RPAY was trading at $3.06 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $267.2M. The 52-week trading range was $2.30 to $6.06. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.